Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

66,000 students relocated after Turkish government shut down 15 universities over coup charges

Turkish government has closed down 15 universities across the country over their alleged links to the Gulen movement since last summer, leading 66,000 students to look for somewhere else to continue their education.

Baseless allegations damage publicly traded firms

The ruling Justice and Development Party (AK Party) government has tried to scapegoat the Hizmet movement via conspiracy theories to evade attention stemming from the corruption allegations. A number of news stories broke soon after Ala’s claims, reporting that Bank Asya’s accounts were being scrutinized for misconduct.

Obama is the real turkey in this scenario

Erdogan also made a statement, calling the president of the United States “Barack,” before launching into one of his usual self-serving rants. Typical of a violent Islamist appropriating the moral high ground, the Turkish president agreed that fighting terrorism is of utmost importance. But the “terrorists” to whom he mainly referred were Gulen and the Kurds.

Nubuwwat symposium starts with rejection of suicide bombing, terrorism

A three-day international symposium launched on Sunday in İstanbul with the theme of nubuwwat (prophethood) has started with a message that a true believer of Islam cannot become a suicide bomber. Speaking at the opening ceremony of the 10th edition of the symposium focusing on the teachings of prominent Islamic scholar Bediüzzaman Said Nursi, Deputy […]

Reassignments — new mobbing on massive scale by gov’t to silence dissent

According to commentators, the governing Justice and Development Party (AK Party), through these reassignments, is not only putting pressure on those carrying out the graft probes but also sending a message to its critics in state positions that their fate will be no different from that of their reassigned colleagues if they do not desist from their criticism of the government.

What do people say about corruption, gov’t and Hizmet?

Do you find the corruption operation right? Yes: 60.5 percent. No: 26.5 percent. No answer: 13 percent. Do you believe in claims that some ministers were involved in corruption? Yes: 70.1 percent. No: 16.8 percent. No answer: 13.1 percent. Do you think the government is trying to cover up claims of corruption? Yes: 59.7 percent. No: 29.6 percent. No answer: 10.7 percent.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Watch out! Anatolian Tigers on the prowl

Turkish-Kyrgyz educator’s abduction shows Ankara’s ruthless disregard for law: HRW

Turkey: Time the world intervened

Criminal complaint filed against prosecutor accusing Hizmet of being terrorist

Ankara systematically tortures supporters of Gülen movement, Kurds, Turkey Tribunal rapporteurs say

Ramadan Tent brings faiths together in Virginia

Police officer reassigned for attending dershane picnic

Copyright 2026 Hizmet News